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Volume 27, Issue 3

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March 11, 2014

Is MasterCard's Fraud Program Just Another Data Grab?

Computerworld — Marketing executives salivate at the thought of being able to track shoppers via their mobile devices. The only problem: How to get consumers to sign on to that? MasterCard might have the answer. By spinning it as a global payment convenience, MasterCard has put a happy face on a major potential information grab.

Here's the deal. MasterCard and its partner Syniverse, a global mobile telecom firm, want you to opt in to let them track your mobile geolocation data. MasterCard says that cardholders who opt in and then travel to other countries will have fewer transactions denied. You see, cardholders are supposed to call their issuer before leaving the country so that their itineraries can be fed to the issuer's antifraud systems. When the cardholders don't do that, they are more likely to have their purchases denied.

So, says MasterCard, let's make this easier for everyone. Just register your phone with us, and then when a transaction request for you comes in from, say, Greece, our system will be able to check to see if your phone is in Greece too. If it is, the transaction is more likely to go through.

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http://www.cio.com/article/749539/Is_MasterCard_s_Fraud_Program_Just_Another_Data_Grab_